Forecasting

Forecasting is the prediction of outcomes, trends, or expected future behavior of a business, through the use of statistics.

As an industry pioneer, IDeaS defined the critical elements of forecasting by its innovative approaches to the unconstraining of demand, incorporation of uncertainty and specialized algorithms which allow for automated updating of forecast patterns based on recent trends through pattern recognition technologies.

With the speed of change now experienced in the marketplace – it is critical to have a solution which responds dynamically.

• Unconstrain  Demand: Effectively understand the total demand in your market which forms the basis for accurate decisions to optimize demand either through pricing or inventory controls
• Incorporate Uncertainty: Account for uncertainty in the forecasting model
• Utilize Advanced Pattern Recognition: Incorporate changing market conditions through specialized algorithms which detect shifting trends versus onetime events
• Account for Competitive Intelligence: Automatically enhance forecasting robustness through the incorporation of competitive data

As the foundation for IDeaS Revenue Optimization solutions, our forecasting approach has been utilized successfully across a variety of industries such as leading hotels, airlines, car rentals, car parks, manufacturing, and transportation management companies.

For more information on IDeaS’ approach to Forecasting in your industry, contact IDeaS.